Most employers are focused on financial metrics when analyzing their business, which makes sense. In recent years though, more attention has been paid to human resource metrics as well. Monitoring the below items can help any company, household or not, with ensuring smooth operation.
- Turnover. If you have employees coming and going it can be a sign that you need some organizational change. While there are plenty of reasons for employees to leave, it is worth keeping track to make sure you understand why. Having this data can help you improve your recruiting and on-boarding processes.
- Average time to fill. If it takes you a long time to fill open positions it can stress your current workforce (or household). While you don’t want to just hire anyone, you also don’t want to be so specific that you never find exactly the right person. Another reason for a long time to fill is brand reputation; no one wants to work for someone with high turnover.
- Average time to productivity. This one should be pretty obvious. When monitoring this, be sure to check industry averages as well. Depending on the complexity of your industry, or an individual position, this can vary widely.
Which metrics mean more to you depend on your organization’s goals, so make sure to align them with your desired business outcomes. If you are having trouble with these types of issues it might be a good idea to look for a staffing service or try to find a friend or mentor to help.